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A snapshot of the summary - Marketing : real people, real decisions
1 What is marketing?
What is a marketplace?It are the host locations for exchanges.
What is the evolution of the marketing concept?- the production era
- the selling era
- the consumer era
- the new era (tripple bottom line)
Explain the new era (triple bottom line)(1988-now)
Building long term bonds with customers. relies on CRM.
What is a green marketing strategy?It is t choose packages and product designs that are eco-firendly, but still profitable.
2 Strategy and environment
What defines strategic planning?- done by top level (management)
- Mission, sets business unit objectives
- establish the business portfolio
- develops growths strategies
What defines functional planning?- Functional level (Marketing director)
- make situation analysis
- marketing objectives
- develop marketing strategies
- implement them
- monitor and control them
What defines operational planning?- by supervisor managers
- make action plans
- monitor if plan is working
What is a mission statement?A formal document that describes the transitions overall purpose and what it hopes to achieve.
What is a LDC?Less developed country
Countries at the lowest stage of economic development
What is the business circle?The overall pattern of changes or fluctuations of an economy